Eagle Lake, Maine Property Taxes
The median property tax rate in Eagle Lake, ME is 1.61%, notably higher than both the national median of 0.99% and Maine's state median of 1.57%. With the median home value in Eagle Lake at $111,950, the typical annual property tax bill reaches $1,651, which is lower than the national median of $2,690. Property taxes in Eagle Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eagle Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Eagle Lake or another part of Aroostook County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eagle Lake, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$1,802
Ownwell’s Eagle Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eagle Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eagle Lake to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Eagle Lake, Maine
Property taxes in Eagle Lake, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle Lake is 1.61%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Eagle Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle Lake estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Eagle Lake's effective property tax rate to other counties in Maine and the national median. For comparison, the 04739 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Eagle Lake provides valuable insights into the varying tax landscape across Aroostook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eagle Lake Tax Rate
1.61%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle Lake, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04739 | 1.19% | 1.61% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Eagle Lake, Maine
In Eagle Lake, Maine, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Aroostook County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Eagle Lake, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Eagle Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Eagle Lake, the median home price is $111,950. The lowest median tax bill is $1,651 in the 04739 zip code, which is also the highest median tax bill in the area. The 25th percentile tax bill is $1,164, while the 75th percentile tax bill is $2,538, and the 90th percentile tax bill is $3,779.
Average Eagle Lake Assessed Value
$111,950
Average Aroostook County Assessed Value
$86,999
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eagle Lake, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04739 | $51,540 | $73,075 | $111,950 | $169,942 | $237,630 |
Source: Ownwell
Property Tax Bills Across Eagle Lake, Maine
In Eagle Lake, ME, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Eagle Lake is $111,950, and the property tax rate in Aroostook County results in a median tax bill of $1,651. This is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and condition. Homeowners in Eagle Lake can expect their tax bills to vary, with the 25th percentile paying around $1,164, the 75th percentile paying about $2,538, and those in the 90th percentile facing bills as high as $3,779. These tax bills impact homeowners by influencing their overall housing costs and potentially affecting their ability to afford other expenses. Accurate assessments and fair tax rates are crucial for maintaining balanced financial responsibilities for homeowners.
Average Eagle Lake Tax Bill
$1,651
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle Lake, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04739 | $788 | $1,164 | $1,651 | $2,538 | $3,779 |
Source: Ownwell